Picard Medical, Inc. (PMI) Key Metrics
PMI valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $29.8M
- Enterprise value
- $12.2M
- P/E (TTM)
- —
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 4.7
- Price / book
- 6.2
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- —
PMI key metrics, 2022–2025
Fiscal year ended December 31, 2025 · U.S. dollarsPMI returns How much profit the business earns on the capital it uses.
Return on assets+23.5 pts
−155.8%
2025 · hover or tap a bar for each year
20222025
Free cash flow margin−46.9 pts
−317.3%
2025 · hover or tap a bar for each year
20222025
Asset turnover−23.8%
0.29
2025 · hover or tap a bar for each year
20222025
PMI per-share figures Results divided by the shares outstanding at year-end.
Revenue per share+10.0%
$3.35
2025 · hover or tap a bar for each year
20222025
Earnings per share
−$18.32
2025 · hover or tap a bar for each year
20222025
Free cash flow per share
−$10.63
2025 · hover or tap a bar for each year
20222025
Book value per share
$2.57
2025 · hover or tap a bar for each year
20222025
Shares outstanding+2.3%
1.5M
2025 · hover or tap a bar for each year
20222025
PMI financial health Debt, liquidity and how easily interest is covered.
Debt / equity
1.84
2025 · hover or tap a bar for each year
20222025
Net debt−$21.3M
−$476,000
2025 · hover or tap a bar for each year
20222025
Current ratio+300.0%
1.11
2025 · hover or tap a bar for each year
20222025
Interest coverage
-2.4
2025 · hover or tap a bar for each year
20222025
Debt / assets−82.1%
0.31
2025 · hover or tap a bar for each year
20222025
PMI efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding−6 days
51 days
2025 · hover or tap a bar for each year
20222025
Days of inventory−15 days
594 days
2025 · hover or tap a bar for each year
20222025
Days payables outstanding−56 days
284 days
2025 · hover or tap a bar for each year
20222025
Cash conversion cycle+35 days
361 days
2025 · hover or tap a bar for each year
20222025
Capex / revenue0.0 pts
0.0%
2025 · hover or tap a bar for each year
20222025
PMI valuation history
Fiscal year-endToday4-year median
PMI returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
PMI debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
PMI price vs earnings per share
Share price at year-endEPS (right axis)
PMI key metrics
2022–2025| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Valuation | ||||
| Market capitalization | $129.0M | — | — | — |
| Enterprise value | $128.5M | — | — | — |
| Price / sales | 26.1 | — | — | — |
| Price / book | 34.0 | — | — | — |
| EV / sales | 26.0 | — | — | — |
| Earnings yield | −20.9% | — | — | — |
| Free cash flow yield | −12.2% | — | — | — |
| Share price at fiscal year-end | $87.50 | — | — | — |
| Per share | ||||
| Revenue per share | $3.35 | $3.05 | $3.50 | $2.85 |
| Earnings per share | −$18.32 | −$14.61 | −$10.80 | −$7.75 |
| Operating cash flow per share | −$10.63 | −$8.24 | −$7.38 | −$7.44 |
| Free cash flow per share | −$10.63 | −$8.24 | −$7.38 | −$7.46 |
| Cash per share | $5.05 | $0.07 | $0.17 | $0.11 |
| Book value per share | $2.57 | −$16.47 | −$2.46 | $7.89 |
| Tangible book value per share | $1.81 | −$17.31 | −$3.37 | $6.93 |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.02 |
| Debt per share | $4.73 | $14.52 | $6.53 | $1.36 |
| Shares outstanding | 1.5M | 1.4M | 1.4M | 1.4M |
| Change in shares outstanding | +2.3% | 0.0% | 0.0% | — |
| Returns & profitability | ||||
| Return on equity (ROE) | — | — | — | −98.2% |
| Return on invested capital (ROIC) | — | — | −130.3% | −66.4% |
| Return on assets (ROA) | −155.8% | −179.3% | −116.1% | −72.3% |
| Return on tangible assets | −126.0% | −193.3% | −154.5% | −79.5% |
| Free cash flow margin | −317.3% | −270.4% | −211.0% | −261.4% |
| Financial health | ||||
| Total debt | $7.0M | $20.9M | $9.4M | $2.0M |
| Cash & short-term investments | $7.5M | $96,000 | $244,000 | $152,000 |
| Net debt | −$476,000 | $20.8M | $9.2M | $1.8M |
| Debt / equity | 1.84 | — | — | 0.17 |
| Debt / assets | 0.31 | 1.73 | 0.83 | 0.13 |
| Current ratio | 1.11 | 0.28 | 0.95 | 4.04 |
| Quick ratio | 0.72 | 0.05 | 0.20 | 1.60 |
| Interest coverage | -2.4 | -4.5 | -110.7 | — |
| Working capital | $2.0M | −$25.5M | −$451,000 | $9.1M |
| Invested capital | $3.3M | −$2.9M | $5.6M | $13.2M |
| Tangible asset value | $2.7M | −$24.9M | −$4.9M | $10.0M |
| Net current asset value | $2.0M | −$26.1M | −$6.2M | $8.1M |
| Graham net-net per share | −$4.81 | −$21.67 | −$7.41 | $1.72 |
| Capital allocation | ||||
| Share buybacks (net) | — | $0 | — | — |
| Capex / revenue | 0.0% | 0.0% | 0.1% | 0.7% |
| Capex / depreciation | 0.00 | 0.00 | 0.01 | 0.05 |
| Stock-based compensation / revenue | 15.3% | 20.2% | 2.6% | 3.6% |
| R&D / revenue | 60.7% | 77.0% | 43.9% | 46.2% |
| SG&A / revenue | 202.5% | 232.7% | 217.7% | 101.6% |
| Efficiency | ||||
| Days sales outstanding | 51.1 | 56.8 | 158.6 | 323.2 |
| Days of inventory on hand | 593.6 | 608.3 | 352.9 | 293.8 |
| Days payables outstanding | 283.8 | 339.5 | 111.1 | 55.8 |
| Cash conversion cycle (days) | 360.8 | 325.6 | 400.4 | 561.2 |
| Receivables turnover | 7.15 | 6.43 | 2.30 | 1.13 |
| Payables turnover | 1.29 | 1.08 | 3.29 | 6.54 |
| Inventory turnover | 0.61 | 0.60 | 1.03 | 1.24 |
| Asset turnover | 0.29 | 0.37 | 0.38 | 0.27 |
| Average receivables | $691,000 | $683,000 | $2.2M | $3.6M |
| Average payables | $3.7M | $4.2M | $2.2M | $1.4M |
| Average inventory | $7.7M | $7.5M | $7.1M | $7.3M |
| Intangibles / total assets | 5.0% | 10.0% | 11.4% | 9.0% |
Computed from PMI's annual financial statements (latest annual report filed March 30, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
PMI valuation and financial ratios
It ended the year with $7.0 million of debt and $7.5 million in cash and short-term investments, a net cash position of $0.5 million.
See the PMI income statement, the PMI chart for price history, or the PMI stock overview for the latest quote and news.
PMI key metrics FAQ
How much debt does Picard Medical have?
Picard Medical had total debt of $7.0 million at the end of fiscal 2025, a debt-to-equity ratio of 1.84 and more cash than debt.
What is Picard Medical's free cash flow yield?
Picard Medical generated -$15.7 million of free cash flow in fiscal 2025, a free cash flow yield of −12.2% on its market value at year-end ($129.0 million).
What is Picard Medical's current ratio?
Picard Medical's current ratio was 1.11 at the end of fiscal 2025: current assets were 1.11 times current liabilities.